Pension Funds Ask: What to Buy When Nothing Is Cheap?
Retirement systems that manage money for firefighters, police officers, teachers and other public workers aren’t pulling back on costly bets for 2018, a time when markets are rising around the world.

In Cities With Low Unemployment, Wages Finally Start to Get Bigger
In U.S. cities with the tightest labor markets, workers are finding something that’s long been missing from the broader economic expansion: faster-growing paychecks.

A Browser You’ve Never Heard of Is Dethroning Google in Asia
A mobile browser rarely used in the West, UC Browser, has outflanked Google’s Chrome in some of Asia’s fastest-growing markets, giving owner Alibaba Group an advantage in the race for the next generation of internet users.

Trump Backs Protesters in Iran
The biggest wave of protests to hit Iran in almost a decade has backed the country’s leaders into a corner, and the Trump administration is increasing the pressure by threatening fresh sanctions if the government forcefully cracks down on the demonstrations.

Costa Rica Probes Cause of Plane Crash That Killed Families
Costa Rican investigators are looking into what caused a charter aircraft to crash in woods in the country’s northwest soon after takeoff, killing two crew members and 10 U.S. citizens, including families from New York and Florida.

Five Things to Know About the Iranian Protests
Protesters, unhappy with recent economic moves in Iran, have called for the regime and Supreme Leader Ayatollah Ali Khamenei to step down, challenging the nearly four-decade clerical rule of the Islamic Republic.

Photos of the Day: Jan. 1
In photos selected Monday by Wall Street Journal editors, children warm up by a fire at a refugee camp in the Gaza Strip, revelers around the world ring in the new year, a plane crash in Costa Rica, and more.

Playboy Might Kill Magazine to Focus on ‘World of Playboy’
The death of Playboy founder Hugh Hefner is ushering in a new era for the adult-entertainment enterprise, setting in motion a process that will move ownership of the iconic brand out of his family’s hands and could soon spell the end of its once pace-setting U.S. magazine.

Trump Administration Urges International Support for Iran Protesters
The Trump administration is lobbying countries world-wide to support Iranians’ right to peaceful protest and is prepared to impose fresh sanctions if Iran’s government cracks down forcefully on the demonstrations, U.S. officials said.

New Year Brings Record Cold to Midwest
Bone-chilling cold gripped much of the central U.S. as 2018 began Monday, breaking century-old records, icing over some New Year’s celebrations and leading to at least two deaths attributed to exposure to the elements.

Nick Saban’s Other Dynasty: His Pickup Basketball Team
Nick Saban is perhaps the greatest coach in the history of college football. But his staff says he’s equally maniacal about his pickup basketball league.

Mayor de Blasio Sworn In, Vowing To Champion Working New Yorkers
Mayor Bill de Blasio was sworn into his second term on New Year’s Day, in a ceremony that brought Vermont Sen. Bernie Sanders to lower Manhattan to promote their shared promises to fight income inequality.

If We Can Put a Man on the Moon, Why Can’t We Put a Man on the Moon?
NASA’s current plans for returning astronauts to the moon aren’t affordable and likely won’t produce sustainable, long-term economic benefits, according to an independent research study commissioned by the agency.

What New Tax Law? Caterpillar Fights to Protect Its Swiss-Made Profits
The American manufacturing icon pays little on profits from parts sales outside the U.S. and was hit with a $2 billion tax bill from the IRS.

Push for New York Congestion Charge Picks Up Steam
With New York’s streets clogged by traffic and its subway system struggling with delays, proponents of a so-called congestion charge on vehicles in Manhattan see new momentum for their cause in 2018.

Death Toll Rises in Iran as Widespread Protests Continue
A wave of protests in Iran on a scale not seen in almost a decade stretched into a fifth day despite government warnings, after at least 10 people died in the mounting unrest.

Are Congress’s Russia Probes Nearly Done? Depends Which Party You Ask
Republicans are looking toward concluding House and Senate investigations into reports of Russian meddling in last year’s U.S. election, while Democrats are pushing for more work.

A Blockbuster and Online Fees Juice China’s Box Office
China’s box office is on the upswing, owing to accounting changes and one blockbuster success that signals the evolving tastes of the country’s massive audience.

New York Politics in 2018: What to Watch
Albany’s 2018 legislative session, which starts Wednesday, is set to be intriguing, with corruption trials, a fight for the Senate and whiffs of presidential politics in the air.

Heard on the Street
Eight Things to Watch in Markets in 2018
The Wall Street Journal’s Heard on the Street team evaluates the year ahead in markets. Here’s what you should watch, from wages to technology to the Chinese economy.

Miners Look to Cash In on Cobalt Demand
A handful of miners are ramping up operations to mine cobalt, betting on demand for a socially responsible source of the metal that is in high demand as a key component of electric cars.

Bookshelf
Review: The Power of Prudence
George H.W. Bush was a don’t-rock-the-boat guy when the boats were rocking wildly. He deserves credit for his muted style and steadying hand. Tom Nagorski reviews ‘When the World Seemed New’ by Jeffrey A. Engel.

New Jersey 16-Year-Old in Custody After Parents, Sister Found Shot to Death
A 16-year-old is in custody after his parents, sister and a family friend were found shot to death in a home in the New Jersey shore town of Long Branch, the Monmouth County prosecutor said.

Capital Journal
California Poses Problem for Republicans as 2018 Dawns
California is the nation’s most populous state, home to 53 seats in the House, reservoir of 55 Electoral College votes—and a political problem for the GOP as the midterm election year dawns, Gerald F. Seib writes.

Test for Newark Schools: Boosting Teacher Attendance
As Newark gears up to regain control of its schools after more than two decades of state takeover, one of many challenges ahead will be getting more teachers to show up consistently.

After Strong M&A Year, Canadian Firms’ Deal Making Could Cool in ’18
Despite uncertainty around the North American Free Trade Agreement, mergers and acquisitions involving Canadian companies were strong in 2017, though deal activity could cool in 2018, bankers and companies say.